Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

[SuddenDeath]

the range now is 88, which is 76% higher than 50...

@SD, so how would you look at this viz a viz daily range?

4265 open, 4330 current, so 75pts and range of 50 = 50% over range?

I wish there was a simple answer to your question. all I can say is that my post #8420 covered everything that happened today, and was remarkably prescient.

 

[ian23]

Hi Ian,

Based on what system / tech analysis?

Hi, yes it is my own system based on bollings, rsi and repulse on a 3 min chart. it is designed to give me 10 to 20 pips per trade. Depending on conditions i use a 10 to 15 pip stop. Will start a journal the next month with dayly trades using this system and will then explain how it works.

 

[Manya1983]

FTSE has definetely eaten its Weetabix this morning! :cheesy:

 

[ian23]

got stopped out at 4340.3

 

[wallstreet1928]

I am now short FTSE 4310 ...stop loss 4340

target 4260-70

I am also short Nasdaq 1476 ..stop loss 1500

stop loss hit once again

thats 2 days in a row ..........

this really is some rally

 

[london_lad]

am kicking myself for locking in profits. I have gone long thrice and made money, got spooked and locked profits. Now thinking of going long again.

 

[lapalabra]

I wish there was a simple answer to your question. all I can say is that my post #8420 covered everything that happened today, and was remarkably prescient.

Sorry SD, the question was simple and careless, don't know what answer I was looking for really - will look back at your posts and put a bit more thinking into it later. Half asleep and off to eat now.

Apart from an early trade this morning all afternoon was spent on the sidelines - buy signals screaming at me but I just couldn't trust them - so much recency bias and all that jazz.

Tomorrow then, people

 

[london_lad]

WTf, why is the market turning now?

 

[london_lad]

take care lapalabra. When you're back, let us know what buy signals were you getting? Trend?

 

[pentlow1]

WTf, why is the market turning now?

I look at the short term down swings, sell the market and then it rallies straight back up again. Ive lost money over time trying to call the top!!! So Im just sitting this one out, until I see a real reversal back below my trend line. Thats my 2p's worth on this market which is doing my head in!!!!!

 

[SanMiguel]

am kicking myself for locking in profits. I have gone long thrice and made money, got spooked and locked profits. Now thinking of going long again.

resistance at 4350ish isn't there?

 

[london_lad]

Pentlow, I was in same mood. I decided to go with the flow and started long, 3 trades and made £30 and exited, feared it will go down again. Now I am long again at 4338. Let's see where it takes me.

 

[Manya1983]

I am looking out for any drop down to 4,300 as an opportunity to buy long again. This would take us to a support level as well as a bounce on the 20 MA.

 

[london_lad]

*phew*, just made profits of £4 and got out. I cant hold the nerves, when everything points towards south but market keeps going north.

 

[london_lad]

20MA is 4330 not 4300. Am looking at 10 min char, what about you?

 

[Manya1983]

I trade of the hourly. Looking at 10 mins is prob too volatile which is why you are getting spooked out of your trades.

FTSE is floating along on the upper bolinger quite slowly today. I suspect we will soon see either a big move north or south rather than this slowness seen so far. I still favour a move north.

 

[kaisen]

I trade of the hourly. Looking at 10 mins is prob too volatile which is why you are getting spooked out of your trades.

FTSE is floating along on the upper bolinger quite slowly today. I suspect we will soon see either a big move north or south rather than this slowness seen so far. I still favour a move north.

Hi Manya, I dont get 4300 on the 20ma on the hourly. What hours is your data on?

 

[Manya1983]

What do you mean by what hours? And its not exactly at 4,300 yet, more like 4290 but its just something which I am looking out for.

Edited the stop on my original position to 4332 in order to lock in profits. Wow, what a ride!

 

[tennisball]

Those swines at ig wont let me lift my costly guaranteed stops - and being a scalper that's a hefty burden. Apparently I'm too much of a low-income chavvy. Never mind, cityindex to the rescue!

I was expecting to read accouts of everyone here going long at the open and having a great time - glad it not just me getting a (mild) beating.

 

[kaisen]

What do you mean by what hours? And its not exactly at 4,300 yet, more like 4290 but its just something which I am looking out for.

Edited the stop on my original position to 4332 in order to lock in profits. Wow, what a ride!

I have my data confined to trading hours - between 8am and 4.30pm.

I was wondering whether this was the cause of the difference in 20ma level?

My 60 min chart shows a 20ma of 4264.6!?!